Company Overview - Jiangsu Yazhen Home Co., Ltd. has been established with a registered capital of 10 million RMB, fully owned by Yazhen Home Co., Ltd. [1] - The legal representative of the new company is Gao Yinnan [1] Business Scope - The company’s business scope includes residential interior decoration, industrial design services, furniture manufacturing and sales, production and sales of furniture accessories, installation and maintenance services for furniture, manufacturing and sales of smart home consumer devices, and various other related services [1] - The company is also involved in import and export activities, property management, and sales of construction materials [1] Corporate Structure - Jiangsu Yazhen Home Co., Ltd. is classified as a limited liability company with no fixed term of operation [1] - The company is registered under the manufacturing industry, specifically in the furniture manufacturing sector [1]

Core Viewpoint - The company, Yazhen Home Co., Ltd., is experiencing significant stock price fluctuations and has reported expected losses for the first half of 2025, with net profit estimates ranging from -39.5 million to -33 million yuan [1][5]. Group 1: Stock Trading and Performance - The company's stock experienced a cumulative price drop of 12% over three consecutive trading days, indicating abnormal trading activity [1][5]. - The stock's price fluctuation was noted to be greater than the overall market index, which had a drop of 14.38% during the same period [5]. Group 2: Financial Performance - The company anticipates a net profit attributable to shareholders of between -39.5 million and -33 million yuan for the first half of 2025, with a net profit excluding non-recurring items expected to be between -38 million and -32 million yuan [1][5]. Group 3: Corporate Governance and Control Changes - The company has undergone a change in control, with the former controlling shareholder, Shanghai Yazhen Investment Co., Ltd., transferring its shares to Mr. Wu Tao, who now holds 50.47% of the total shares [2][3]. - The company confirmed that there are no undisclosed significant matters or risks beyond the disclosed change in control and share transfer [1][2][3]. Group 4: Operational Status - The company reported that its production and operational activities are normal, with no significant changes in the market environment or internal operations [1][5]. - There are currently no plans for major business adjustments or asset restructuring in the near future [6]. Group 5: Disclosure and Compliance - The board of directors confirmed that there are no undisclosed matters that should be reported according to the Shanghai Stock Exchange regulations [6]. - The company has not identified any media reports or market rumors that require clarification or response [3][4].

证券代码：603389 证券简称：*ST 亚振 公告编号：2025-061 亚振家居股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、股票交易异常波动的具体情况 公司股票交易连续三个交易日内日收盘价格跌幅偏离值累计达 12%，根据 《上海证券交易所交易规则》的相关规定，属于股票交易异常波动的情形。 二、公司关注并核实的相关情况 （一）生产经营情况 经公司自查，公司目前生产经营活动正常。市场环境或行业政策没有发生重 大调整、内部生产经营秩序正常，不存在应披露而未披露的重大信息。 （二）重大事项情况 公司已于 2025 年 5 月 30 日收到原控股股东上海亚振投资有限公司（以下简 1 亚振家居股份有限公司（以下简称"公司"）股票于 2025 年 7 月 24 日、 25 日、28 日连续三个交易日内日收盘价格跌幅偏离值累计达到 12%，属于股票 交易异常波动。 生产经营风险。公司预计 2025 年半年度归属于上市公司股东的净利润为 -3,950 万元到-3,300 万元，归属 ...

Core Viewpoint - *ST亚振's stock experienced abnormal trading fluctuations, with a cumulative decline of 12% over three consecutive trading days [1] Financial Performance - The company expects a net profit attributable to shareholders for the first half of 2025 to be between -39.5 million and -33 million [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -38 million and -32 million [1] Disclosure and Compliance - Following a self-examination and inquiries with the controlling shareholder and actual controller, the company confirmed that there are no undisclosed significant matters or risks, aside from previously disclosed control changes and tender offer matters [1]

Group 1 - The core driver of *ST Yazhen's stock price surge is a significant change in control, with Shanghai Yazhen Investment Co., Ltd. transferring 30% of shares to Wu Tao at a price of 5.68 yuan per share, totaling 448 million yuan [3] - Following the transfer, Wu Tao became the controlling shareholder, holding 24.54% of shares, while his associate Fan Weihao held 5.46% [3] - Wu Tao's recognition of the company's value led to a partial tender offer for 21% of shares at the same price, resulting in a total holding of 45% for Wu Tao and 50.47% when combined with Fan Weihao [3] Group 2 - Despite the stock price increase, *ST Yazhen's fundamentals are poor, with a projected net profit of negative value for 2024 and operating revenue below 300 million yuan, triggering delisting risk warnings [4] - The stock was placed under delisting risk warning on May 6, changing its name from "Yazhen Home" to "*ST Yazhen," yet the stock price continued to rise, leading to multiple trading suspensions for abnormal fluctuations [4] Group 3 - The abnormal trading phenomenon of the Kexin Composite Index ETF is noteworthy, with a market size of approximately 89 million units as of July 24 [5] - On July 25, the ETF experienced a dramatic price increase, closing with a 20.04% gain due to a minimal transaction amount of 134.2 yuan, highlighting its low liquidity [5] - Concurrently, AI-related ETFs showed strong performance, with significant increases ahead of the upcoming World Artificial Intelligence Conference, indicating heightened investor interest in AI sectors [5]

2025年7月21日至2025年7月25日，上交所对292起拉抬打压、虚假申报等证券异常交易行为采取了书面 警示、暂停交易等监管措施，对*ST亚振（603389）等异常波动风险警示股票、上纬新材等严重异常波 动股票进行重点监控，对13起上市公司重大事项等进行专项核查，向证监会上报涉嫌违法违规案件线索 3起。 ...

证券代码：603389 证券简称：*ST 亚振 公告编号：2025-060 亚振家居股份有限公司 股票交易异常波动暨风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 近期亚振家居股份有限公司（以下简称"公司"）A 股股票价格波动较大， 如后续公司股票交易进一步出现重大异常，为保护中小投资者合法权益，公司将 依规申请停牌核查。敬请广大投资者理性投资并注意投资风险。 公司股票于 2025 年 7 月 21 日、22 日、23 日连续三个交易日内日收盘价 格涨幅偏离值累计达到 12%，属于股票交易异常波动。公司股票短期涨幅与同期 上证指数、家具制造业存在严重偏离。根据中证指数有限公司官方网站发布的最 新滚动市盈率和市净率数据（更新日期：2025 年 7 月 22 日）显示，公司最新滚 动市盈率为亏损；市净率为 26.84，严重高于同行业水准。可能存在市场情绪过 热，非理性炒作情形。公司郑重提醒广大投资者，公司股价可能存在短期涨幅 较大后下跌的风险，请投资者务必充分了解二级市场交易风险，切实提高风险 意识， ...

New Stock Listings - Tech Source Group issued shares at a price of 10.88 CNY[1] - Shanda Power issued shares at a price of 14.66 CNY[1] Market Alerts - ST Zitian reported an equity date on July 21, 2025, with a link to the announcement[1] - Guangshengtang experienced severe abnormal fluctuations, with an announcement on July 17, 2025[1] - Huayin Power had an announcement on July 15, 2025, regarding market conditions[1] - Multiple companies including Shangwei New Materials, China Power Construction, and Jiangnan Chemical had announcements on July 23, 2025, regarding market activities[1] Abnormal Fluctuations - Companies such as ST Weier and ST Huadong reported significant fluctuations with announcements on July 21, 2025[2] - ST Jinyi and ST Yundong also reported abnormal fluctuations with announcements on July 17, 2025[2]

Group 1 - The core viewpoint of the article highlights the absurdity of *ST Yazhen's stock price surge despite its poor fundamentals, driven by speculative trading and a change in control [1][2][3] - *ST Yazhen's stock price has experienced significant volatility, with a recent surge leading to a cumulative increase of 435.97% since April's low [2] - The company has been under regulatory scrutiny due to abnormal trading behaviors that mislead investors, resulting in trading suspensions [2][3] Group 2 - The new controlling shareholder's entry has created speculation about potential asset injections and business transformations, which has attracted retail investors [1] - Despite the stock price increase, *ST Yazhen's financial performance remains weak, with a projected loss of 33 to 39.5 million in the first half of 2025 and a negative net profit in 2024 [2] - The company's current price-to-earnings ratio is negative, while its price-to-book ratio stands at 24.34, significantly higher than the average in the furniture manufacturing industry [2]

*ST亚振（603389）近期多次出现异常波动情形，公司已多次发布风险提示公告，提请广大投资者审慎 投资，注意投资风险。近日，该股股价继续大幅波动，部分投资者在交易该股过程中存在影响市场正常 交易秩序、误导投资者交易决策的异常交易行为，上交所依规对相关投资者采取了连续实施暂停交易等 自律监管措施。上交所再次提醒投资者关注风险，审慎参与，合规交易。(上交所发布) ...